According to Euro OnLine, Ministry of Culture confirmed previous municipal’s decision and approved City Epoque project. According to ministry’s verdict, project will not affect value of Prague historic panorama due to it was put on UNESCO’s list. Source from ECM says that this is final decision and there is no appeal available. Company plans to present its City Epoque project at press conference on Thursday, September 6. Our view: Despite all previous problems we expected the project will be approved. The City Epoque consists of two skyscrapers (residential and hotel). Although the news is positive we do not expect any significant impact for today’s trading.